wholesale help ?

[Isaiah Suber]

so ive got a "distressed seller" that has a property estimated to be worth 178,000 that will accept 60k

however he owes 268,380 on the mortgage . how do i structure this deal ?

[Aaron Mazzrillo]

On to the next one. You obviously have little to zero experience. This will be about as interesting as putting a frog in a blender.

Step 1. Find out what the property is worth.

Step 2. Find out how much the seller owes.

Step 3. If you subtract #2 from #1 and you get a negative number, find an agent who works short sales and have that person work the deal with your offer being the one that gets submitted to the lender.

Step 4. Stop holding your breath that you will ever close on that deal, put it on the back burner, go find a seller with equity & motivation, then try to put together a deal that will put some cha-ching in your pocket.